Moody's Ratings affirms Carilion Clinic Obligated Group's (VA) Aa3 and Aa3/VMIG 1; outlook stable

Carilion Clinic Obligated Group, VA: Update to credit analysis - Credit Opinion – 2023/06/02 – US$ 250.00 – ...Carilion Clinic's credit profile (Carilion; Aa3 stable) reflects its scale, role as a tertiary regional referral system with broad geographic capture, and a highly integrated physician base with a well-defined culture that will continue to support strong demand and a distinctly leading market position across central Virginia. While financial performance in 2023 will remain constrained by sector-wide labor and supply pressures, as well as by clinical capacity constraints until the new tower opens in 2025, management's financial stewardship and savings initiatives will support the incremental rebuild of operating cash flow (OCF) margins to historic levels in 2025. To that end, it is expected that fiscal 2023's OCF margin will show strengthening to over 3% and traction will continue thereafter. Also, Carilion's still very solid days cash and cash to total debt will be maintained as cash flow, unspent bond proceeds from a prior issuance, and capital campaign funds will provide for higher than...

Carilion Clinic Obligated Group, VA: Update to credit analysis - Credit Opinion – 2021/10/14 – US$ 250.00 – ...Carilion Clinic's credit profile (Carilion; Aa3 stable) expects a solid financial rebound, relative to pre-pandemic levels, and measurable reduction in its pension liability (as of June 30, 2021) will allow for the absorption of the proposed debt. Carilion's operating cashflow (OCF) margin will likely approach 8% in FY 2021, buoyed by CARES funds and expense initiatives. Though the FY 2022 OCF margin is expected to remain above 7.5%, further margin strengthening will likely be tempered by clinical capacity constraints until the new facility opens in 2024. Additionally, industry-wide labor challenges will weigh on margins. Carilion's strong days cash and cash to total debt will be maintained after repayment of Medicare advanced funds as the balance sheet will be enhanced by the proceeds of the proposed issuance and favorable market returns. Also, expected cash flow and unspent bond proceeds from a prior issuance should allow Carilion to fund higher capital spending related to the master...

Moody's assigns Aa3 to Carilion Clinic Obligated Group's, VA Ser. 2021; outlook stable - Rating Action – 2021/10/08 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Moody's affirms Carilion Clinic Obligated Group's (VA) Aa3&Aa3/VMIG 1; outlook stable - Rating Action – 2021/05/06 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Moody's assigns Aa1/VMIG 1 LOC-backed rating to Carilion Clinic Obligated Group, VA's Series 2020C - Rating Action – 2020/02/05 – US$ 180.00 – ...ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications. To the extent permitted by law, MOODY'S and its directors, officers,...